Bankruptcy Litigation in Massachusetts

The first step: which type of bankruptcy?

The first choice to consider when filing bankruptcy in Massachusetts is which type of bankruptcy is most suitable for you. Attorneys at DeBruyckere Roth & Associates, PLLC will examine three main factors to determine which type of bankruptcy that you should file:

• Personal or business: individuals and businesses can both file for Chapter 7 bankruptcy, but individuals can also choose Chapter 13, while businesses can choose Chapter 11.
• Eligibility: not everybody can file for bankruptcy. In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act, which established stricter criteria for qualifying for Chapter 7 liquidation.
• Financial situation: not everybody needs to file for Chapter 7 bankruptcy, which discharges debt and sells off non-exempt assets. Some individuals and businesses might have the ability to pay back creditors over time. In such cases, filing Chapter 11 or Chapter 13 bankruptcy might be more appropriate.

If you have questions or concerns about your financial situation, contact us about filing bankruptcy in Massachusetts

Guiding you through the process

DeBruyckere Roth & Associates, PLLC handles the bankruptcy process and the paperwork. There are several steps that must be taken in order to file a bankruptcy in Massachusetts:

Paperwork: filing bankruptcy requires completing a bankruptcy petition detailing your financial situation:

• A list of your debts and their values
• A list of your property and assets and their values
• Your current income and expenses
• Details about your financial history
• The number of creditors seeking payment from you, and the estimated amount owed

Bankruptcy fees: filing a bankruptcy petition costs money. The filing fee depends on the type of bankruptcy. For example, the fee for Chapter 7 is $299. Waivers are possible in some situations.

Credit counseling: as required by the Bankruptcy Abuse Prevention and Consumer Protection Act, individuals must participate in credit counseling within 180 days prior to filing for bankruptcy.

How long does it take?

If you are engaged in bankruptcy litigation in Massachusetts, the process will not be resolved overnight. Filing a bankruptcy claim could take months or even years, depending on the type of claim, the number of creditors, and whether you are using an attorney. Generally, personal bankruptcies take less time than business bankruptcies. Attorneys at DeBruyckere Roth & Associates, PLLC work hard to file your claim as quickly as possible.

Call 978 686-4600 to file bankruptcy in Massachusetts.